Apollon Wealth Management LLC Buys 1,380 Shares of Raymond James (NYSE:RJF)

Apollon Wealth Management LLC raised its holdings in Raymond James (NYSE:RJF) by 9.6% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 15,781 shares of the financial services provider’s stock after acquiring an additional 1,380 shares during the quarter. Apollon Wealth Management LLC’s holdings in Raymond James were worth $1,933,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Ceredex Value Advisors LLC raised its stake in Raymond James by 191.3% in the 3rd quarter. Ceredex Value Advisors LLC now owns 722,393 shares of the financial services provider’s stock valued at $88,464,000 after acquiring an additional 474,443 shares during the period. AGF Management Ltd. raised its stake in Raymond James by 17.2% in the second quarter. AGF Management Ltd. now owns 2,580,467 shares of the financial services provider’s stock valued at $318,972,000 after purchasing an additional 378,033 shares in the last quarter. Earnest Partners LLC raised its position in Raymond James by 5.9% during the first quarter. Earnest Partners LLC now owns 2,468,196 shares of the financial services provider’s stock valued at $316,966,000 after purchasing an additional 138,075 shares in the last quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH boosted its stake in Raymond James by 34.4% in the third quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 493,729 shares of the financial services provider’s stock valued at $60,462,000 after buying an additional 126,437 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Raymond James by 6.0% during the second quarter. Dimensional Fund Advisors LP now owns 2,024,612 shares of the financial services provider’s stock worth $250,238,000 after buying an additional 113,826 shares in the last quarter. 83.83% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts recently commented on the company. Bank of America upped their target price on Raymond James from $136.00 to $152.00 and gave the company a “buy” rating in a report on Thursday, October 24th. JPMorgan Chase & Co. lowered their target price on Raymond James from $137.00 to $135.00 and set an “overweight” rating on the stock in a research note on Thursday, July 25th. JMP Securities raised their price objective on shares of Raymond James from $146.00 to $150.00 and gave the stock a “market outperform” rating in a report on Thursday, October 24th. The Goldman Sachs Group raised their price target on shares of Raymond James from $125.00 to $142.00 and gave the company a “neutral” rating in a report on Thursday, October 24th. Finally, Wells Fargo & Company boosted their price objective on shares of Raymond James from $140.00 to $152.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. Nine analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, Raymond James presently has a consensus rating of “Hold” and a consensus target price of $140.91.

Raymond James Stock Down 1.0 %

Raymond James stock opened at $160.64 on Thursday. The stock has a market cap of $33.08 billion, a PE ratio of 16.54, a price-to-earnings-growth ratio of 0.82 and a beta of 0.99. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.99 and a current ratio of 1.02. The stock has a fifty day moving average of $133.47 and a 200 day moving average of $123.99. Raymond James has a one year low of $101.90 and a one year high of $163.45.

Raymond James (NYSE:RJF) last issued its quarterly earnings data on Wednesday, October 23rd. The financial services provider reported $2.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.41 by $0.54. The firm had revenue of $3.46 billion during the quarter, compared to the consensus estimate of $3.32 billion. Raymond James had a net margin of 13.86% and a return on equity of 19.61%. The company’s revenue for the quarter was up 13.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.13 EPS. As a group, sell-side analysts predict that Raymond James will post 10.73 EPS for the current year.

Raymond James Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Tuesday, October 1st were given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 1.12%. The ex-dividend date was Tuesday, October 1st. Raymond James’s dividend payout ratio is currently 18.54%.

Raymond James Profile

Raymond James Financial, Inc, a financial holding company, through its subsidiaries, engages in the underwriting, distribution, trading, and brokerage of equity and debt securities, and the sale of mutual funds and other investment products in the United States, Canada, Europe, and internationally. The company operates through Private Client Group, Capital Markets, Asset Management, RJ Bank, and Other segments.